Save Article

Goldman Sachs to Acquire
Nearly 20% of Japan's Usen

By

Kazuhiro Shimamura and

Andrew Morse

Updated April 20, 2007 12:01 a.m. ET

TOKYO -- U.S. investment bank Goldman Sachs Group Inc. said Thursday that it will buy just under 20% of Usen Corp. for 25 billion yen ($210.7 million), becoming the Japanese cable-and-Internet company's second-largest shareholder.

New York-based Goldman will buy 24.51 million newly issued shares at 1,020 yen each, giving it an 18.07% stake. Goldman said it will hold the stake for the midterm to long term, a period generally seen as between three and five years.